Let’s face it: my previous post on workplace culture in banking was a bit gloomy. But the data is unequivocal. Multiple Accenture cross-industry studies have found that, on an industry level, banking struggles more than it should to attract, recruit and retain…
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If there’s one thing the payments industry has learned to expect over the last decade, it’s the unexpected. Even before the pandemic rewrote the rules on customer expectations, industry incumbents were being compelled to innovate by forces such as the advent of…
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The Great Resignation—which has seen unprecedented numbers of employees quitting their jobs in many leading countries—is creating spine-chilling vacancies in every corner of the corporate world, including commercial banking. What will it take for banks to escape the talent nightmare and attract…
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The Open Banking wave is picking up speed in Canada. The Advisory Committee on Open Banking, in its final report, said an Open Banking system is achievable for the country by January 2023, and the government is moving to make that a…
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I cannot overstate the benefits of a modern core system—including flexibility, growth, new revenue pools and cost reduction—or the downsides of not having one. Without a modern technology stack, auto and equipment finance companies: Waste time on repetitive manual tasks that are…
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Before making a big investment (of both money and effort) in their journey to cloud, most banks want to know what kind of return they’ll get on that investment. Is there a solid business case for moving to cloud? I discuss the…
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In this series of Banking Cloud Altimeter conversations, we’ve discussed the challenges that banks face in their journey to cloud, and the shift in culture that can help them maximize the value they get from their transition. In this post, we’re focusing…
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Environmental, social and governance (ESG) ratings are essential for banks and the companies they fund. But too often these sustainability assessments are opaque and inconsistent. Now, regulations that would improve the transparency of ESG ratings have just moved closer. The International Regulatory…
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The last two years have changed how banks are approaching their digital journeys. That’s why I wanted to write about this topic, and why I asked my colleague Danelle Faust to join me as co-author. She leads our financial services business within…
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“Learn from the mistakes of others. You can never live long enough to make them all yourself.” – Groucho Marx “Sometimes, when you innovate, you make mistakes. It is best to admit them quickly, and get on with improving your other innovations.”…
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As you read this, the internet is being reshaped. And it’s already transforming banking. We have not witnessed a topic explode quite like the metaverse. While extended reality (XR) technology has been...
In a post-COVID world we have seen dramatic changes in the way customers pay, from the further shift towards a cashless society to a digital revolution in e-commerce payments. As we look forward, we s...
Back in 2009, Apple coined the catchy phrase, “there’s an app for that.” Since then, apps (single-use apps, that is) have multiplied exponentially and become part of everyday life for most people. But...
When Neal Stephenson coined the term “metaverse” in his 1992 science-fiction novel, Snow Crash, he could hardly have foreseen that the phrase would be everywhere by late 2021. With bigtech giants like...
The Efma-Accenture Banking Innovation Awards have been a catalyst for innovation in banking since their inception in 2013. Since then, I look forward to them every year as the industry rewards and cel...
Every January since 2018, our annual “Top 10 Banking Trends” report has attempted to cut through the noise and reveal the real forces shaping the industry’s future. On top of the bold predictions and ...
The pace of change in payments right now might seem overwhelming. The pandemic has supercharged the trend towards contactless, online and instant payments. Contactless payments, for instance, grew 150...
This blog is based on my keynote presentation at the 2021 Payments Canada SUMMIT Payments leaders probably feel like they are living in the future right now. The pandemic changed the industry forever....
The COVID-19 pandemic has pushed digital payments into a new era as businesses around the world were forced to switch quickly from in-store to online. As more and more consumers started to shop online...
Digital payments are gaining popularity as cash usage declines around the world. While card payments still dominate in countries where they have a large incumbent advantage, digital products like paym...
